11 things to know about investing in 2011 — #8 An ounce of information is worth a lot of money

8. An ounce of information is worth a lot of money. In this age of the Internet, there’s an abundance of free information about saving, investing, and money management available to you. You can also go to the library, take a class, or sit down with a financial planner. Becoming knowledgeable about your options and developing a clear strategy are keys to smart investing. It is also often a good idea to speak with a qualified financial planner.

We all have a lot on our plates, so taking the time to research investing strategies and retirement savings targets doesn’t hold a lot of appeal. It’s a little like going to the dentist twice a year: it’s inconvenient, might make you nervous, and may even be a bit uncomfortable.

But like going to the dentist, the discomfort could be much greater later in life if you don’t do your maintenance work today. So think of becoming educated about your financial future the same way you think about regular check-ups so that you don’t have to have a retirement root canal down the road.

And just as you wouldn’t let your next door neighbor start drilling on your teeth (unless he happens to be a qualified dentist), make sure to check your resources and to get advice from knowledgeable sources. Your financial future is at least as important as your teeth.

Resource: Prudential Investment Basics Tutorial

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